>Auction Results

Auction 13

RGGI Auction 13 was held on September 7, 2011 and monitored by Potomac Economics, an independent monitor of electricity markets retained to evaluate the RGGI CO2 allowance market. Potomac observed the auction and confirmed that there was no material evidence of collusion or manipulation by bidders, and that the vast majority of bids were consistent with competitive expectations.

A total of 41 qualified bidders, listed by name in section 4 below, submitted an Intent to Bid in the auction.

The following statistics summarize the purchases and holdings of allowances by electric generators and their corporate affiliates ("compliance entities") under the RGGI program:

In Auction 13, compliance entities and their affiliates purchased:

94 percent of the current control period allowances sold and

No future control period allowances.

In the first 13 RGGI auctions, compliance entities and their affiliates purchased:

85 percent of the current control period allowances sold,

92 percent of the future control period allowances sold, and

85 percent of all allowances sold.

Compliance entities and their affiliates will hold 97 percent of the allowances in circulation following the settlement of allowances sold in Auction 13.

3. Dispersion of Bids

In the offering of current control period allowances, bids were submitted by a large number of compliance entities and several non-compliance entities. A small number of allowances were also auctioned in advance for a future control period, although no bids were submitted in this offering.

In the auction for current control period allowances, just one compliance entity submitted bids for a large quantity of allowances (e.g., at least 1 million tons or 2.5 percent of the available supply). Overall, compliance entities accounted for 94 percent of the quantity of allowances for which bids were submitted in the offering of current control period allowances. The quantity of allowances for which bids were submitted decreased to 0.18 times the available supply in Auction 13 from 0.30 times the available supply in Auction 12 and 1.1 times the available supply in Auction 11.

In the auction for future control period allowances, no bids were submitted. This decreased from 0.57 times the available supply in Auction 12 and 1.4 times the available supply in Auction 11.

The following figure summarizes the quantities of bids submitted by all bidders.

Quantity of Bids Submitted By Type of Entity and Quantity Bid

4. Qualified Bidders

The following 41 qualified bidders submitted their intent to bid in the auction.

Adirondack Council Inc.

AES Eastern Energy, LP

Aircraft Services Corporation

Astoria Generating Company, LP

Barclays Bank PLC

Berkshire Power Company, LLC

Brooklyn Navy Yard Cogen Partners, LP

Caithness Long Island, LLC

Carbon Lighthouse Association

Castleton Power, LLC

Chambers Cogeneration, LP

Conoco Phillips Company

Consolidated Edison Comp. of NY, Inc.

Constellation Energy Commodities Group

Dominion Energy Marketing, Inc.

Empire Generating Co., LLC

EquiPower Resources

GenOn Energy Management, LLC

Green Mountain Power Corporation

Indeck-Corinth Limited Partnership

Indeck-Oswego Limited Partnership

Indeck-Yerkes Limited Partnership

J-Power USA Development Co., Ltd.

Kleen Energy Systems, LLC

Logan Generating Company, LP

Millenium Power Partners, LP

Morgan Stanley Capital Group, Inc.

National Grid Gen. dba National Grid

New Athens Generating Company, LLC

North American Energy Alliance, LLC

NRG Power Marketing, LLC

Power Authority of the State of New York

PSEG Energy Resources & Trade, LLC

Public Service Company of New Hampshire

RBC

Rochester Gas and Electric Corporation

Selkirk Cogen Partners, LP

Sterling Planet, Inc.

Sunoco Power Generation, LLC

Verso Paper Corp.

Wallingford Energy, LLC

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Allowance Prices and Volumes (by Auction)

This chart displays the results of each RGGI CO2 Allowance Auction. To view a state-by-state breakdown for each auction, click on the auction number listed in the left-hand column.

Cumulative Allowances & Proceeds (by State)

This chart displays cumulative auction results organized by state. To view a complete breakdown by auction and allowance control period for each state, click on the state name listed in the left-hand column.